Healthcare

Potential
Healthcare industry is the world's largest industry with total revenues of approx US$ 2.8 Trillion. In India as well, Healthcare has emerged as one of the largest service sectors with estimated revenue of around $ 30 billion constituting 5% of GDP and offering employment to around 4 million people.
By 2025, Indian population will reach 1.4 billion with about 45% constituting urban adult (15 years+). To cater to this demographic change, the healthcare sector will have to be about $100 billion in size contributing nearly 8 to 10% of the then GDP. By then, the 10 large national healthcare networks would be able to absorb 30% of the market share. The leaders in the Indian healthcare sector will be benchmarked to international quality and efficiency standards.
Opportunities
According to Investment Commission of India, the sector has witnessed a phenomenal expansion in the last 4 years growing at over 12% per annum. As per a recent CII-McKinsey report, the growth of this sector can contribute to 6-7% of GDP and increase employment by at least 2.5 million by 2012.
The key drivers for Indian Healthcare sector are:
Medical Value Travel or Medical Tourism
World class treatment and benefits at a fraction of the Cost (almost 1/10th) with no waiting time for surgeries as compared to advanced nations like UK and US where waiting period is substantially longer have been instrumental in a large number of foreign arrivals to access healthcare services in India. Medical tourism market is valued to be worth over $310 million with foreign patients coming by 100,000 every year, and the market is predicted to grow to $2 billion by 2012.
Diagnostics & Pathology Services
• Outsourcing of Pathology and Laboratory tests by foreign hospital chains due to the high cost differential in India.
Clinical Trials
• Availability of a Huge Patient Pool
• Cost advantage with testing of drugs possible at 60% of the price.
Health Insurance
With less than 10 per cent of the population having some sort of health insurance, the potential market for health insurance is huge. McKinsey-CII estimates the number of potential insurable lives at 315 million with a potential of US$ 7,700 million in health insurance premium by 2015.
Telemedicine
Allows even the interiors to access quality healthcare and at the same time, significantly improves the productivity of medical personnel. Telemedicine is one such innovative technology, which if used effectively can double the utilization of scarce human medical personnel.Potential
Healthcare industry is the world's largest industry with total revenues of approx US$ 2.8 Trillion. In India as well, Healthcare has emerged as one of the largest service sectors with estimated revenue of around $ 30 billion constituting 5% of GDP and offering employment to around 4 million people.
By 2025, Indian population will reach 1.4 billion with about 45% constituting urban adult (15 years+). To cater to this demographic change, the healthcare sector will have to be about $100 billion in size contributing nearly 8 to 10% of the then GDP. By then, the 10 large national ...